Elevation Mortgage

Your Trusted & Experienced Mortgage Broker
Elevation Mortgage

Reverse Mortgage

What Are Reverse Mortgages?

Navigating the world of Reverse Mortgages can seem daunting, but it doesn’t have to be. Reverse mortgages are designed specifically for homeowners aged 62 and older, allowing them to borrow against a portion of their home’s equity. Unlike a traditional mortgage, with a reverse mortgage, you don’t have to make monthly payments. Instead, the loan balance increases over time due to the accumulation of borrowed money, interest, and fees.

One popular type of reverse mortgage is the Home Equity Conversion Mortgage (HECM), backed by the Federal Housing Administration (FHA). This program allows seniors to withdraw a portion of their home’s equity for various purposes such as home maintenance, repairs, or general living expenses.

However, it’s crucial to remember that a reverse mortgage is not free money. It’s a loan that will eventually need to be repaid, usually when the homeowner moves out of the property or passes away. Therefore, it’s important to carefully consider your financial situation and consult with a trusted financial advisor before deciding on a reverse mortgage.

If you’re considering a reverse mortgage, ensure you understand the requirements and implications. Reach out to an FHA-approved lender to discuss your options.

What You Need to Know About Reverse Mortgages?

Other Service

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It's Fast, Easy and Efficient!

Our Pre-Approval Process

Follow the 5-Step process to guaranteed success in your home buying journey. Our goal is to ensure a smooth and fluid process, which is achieved educating you every step of the way. Let us guide you home!

Step 1
Loan Consultation

We begin by understanding your financial goals and needs and discussing various loan options available to you in detail.

Step 2
Loan Application

Once you've chosen the right loan program, we assist you in completing the loan application accurately and efficiently.

Step 3
Upload Documents

You'll securely upload necessary documents such as income statements, tax returns, and identification to our online portal for review.

Step 4
Loan Review

Our team reviews your application and documents to ensure everything is in order and meets lender requirements.

Step 5
Pre-Approved

Upon successful review, you'll receive pre-approval, indicating that you meet initial qualification criteria, giving you confidence as you move forward with your home purchase.

Ready to Start The Pre-approval Process?

Its never too early to start the pre-approval process!

Expertise and Experience

Choose us for our unparalleled expertise and years of experience in the mortgage industry. Our team of professionals possesses deep knowledge and understanding of the market, ensuring you receive top-notch guidance and advice throughout the loan process.

Transparency and Trustworthiness

With us, you can trust that you're working with a transparent and trustworthy partner. We believe in open communication, honesty, and integrity, providing you with clear information and guidance to make informed decisions confidently. Choose us for a seamless and trustworthy mortgage experience you can rely on.

Flexible Rates & Low Fees

we offer flexible fees and an easy process, ensuring a hassle-free experience from start to finish. Choose us for a seamless and trustworthy mortgage experience you can rely on.

Book an Appointment Now!

Verified Google Reviews

Good
Based on 40 reviews
Dallas Hidalgo
Dallas Hidalgo
Trustindex verifies that the original source of the review is Google.
Reed has always been one of the best mortgage brokers to work with. He has the best rates and has always gotten the deal to the closing table.
MV Good
MV Good
Trustindex verifies that the original source of the review is Google.
Reed was an outstanding professional to work with! He helped us understand which mortgage option was best for us and was always very responsive to questions. I highly recommend him and his company if you are looking for a mortgage company.
Leah Canfield
Leah Canfield
Trustindex verifies that the original source of the review is Google.
I represented Buyers who got their mortgage from the Letson Group and Reed and his team were responsive, professional, and quick to problem solve as we had some last minute hoops to jump through on the Real Estate sale. They offer more diverse loan options than a standard bank and their rates are competitive. I recommend them!
Kira Molina
Kira Molina
Trustindex verifies that the original source of the review is Google.
Reed and the team at Elevation Mortgage are the best lending team around hands down!!!! At soooo many points in the home buying process I felt overwhelmed and as if I was just drowning trying to keep up with what was going on but Reed and his team were SUPER SUPER SUPER patient with me and always had time to answer my questions, calm my fears and walk me through everything!! I cannot speak highly enough of the Elevation Mortgage team!!! I started out with a different lender and an absolutely horrible experience and Reed did everything he could reasonably do to help me!!! My husband and I HIGHLY recommend them for your mortgage needs, we are so blessed to have found them!!!!
Jake Duvall
Jake Duvall
Trustindex verifies that the original source of the review is Google.
Reed and his team were able to help me out tremendously. They were able to answer all my questions and provided excellent service throughout the process. Thank Elevation Mortgage!
Shawn McVey
Shawn McVey
Trustindex verifies that the original source of the review is Google.
Reed is great to work with. He is professional, caring and very responsive in helping you out with your mortgage.
Kirk Macklem
Kirk Macklem
Trustindex verifies that the original source of the review is Google.
Elevation Mortgage has been rock solid with assisting buyers that I've sent their way. As a Realtor I have high expectations for my lender partners and Elevation is outstanding. Very professional, knowledgeable, responsive and thorough! Do not hesitate to reach out to the top mortgage broker in Colorado Springs, you'll be glad you did.
valeria mendoza
valeria mendoza
Trustindex verifies that the original source of the review is Google.
Tuvimos el privilegio de trabajar con Todd Vidic y ha sido la mejor experiencia para mi familia y para mi. El nos ayudo para conseguir el mejor prestamo y fue un processo rapido y satisfactorio. Estamos muy agradecidos con Todd y todo el equipo de Elevation Mortgage, definitivamente los recomendamos.
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